Telos Corporation Selected as Prime Contractor for the U.S. Navy SeaPort Next Generation Contract
ASHBURN, Va., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Telos Corporation (NASDAQ: TLS), a leading provider of cyber, cloud and enterprise security solutions for the world's most security-conscious organizations, today announced its on-ramp as a prime contractor to the U.S. Navy – SeaPort Next Generation (SeaPort NxG) multiple award, indefinite-delivery/indefinite-quantity (IDIQ) contract.
SeaPort NxG serves the Navy Virtual SYSCOM Commanders, including NAVAIR, NAVFAC, NAVSEA, NAVSUP, NAVWAR and ONR, as well as the Military Sealift Command (MSC) and the United States Marine Corps (USMC). SeaPort NxG is the U.S. Navy's integrated and mandatory approach to contracting for professional support services (PSS). As a prime contractor, Telos will be eligible to bid on task orders until 2028, at which time the Navy will perform a re-compete for a nine-year period of performance.
'Telos is pleased to be a part of SeaPort NxG, which strengthens our relationship with the U.S. Navy,' said John B. Wood, CEO and chairman, Telos. 'We look forward to providing the Navy with network engineering and operational support, program management, logistics, and training to support cyber risk assessment.'
In addition to SeaPort NxG, since 2023, Telos has won positions on the following federal government blanket purchase agreement (BPA) and IDIQ contract vehicles, which, when combined with SeaPort NxG, provide market access to compete for new business opportunities that, in the aggregate, represent approximately a $35 billion addressable market, including:
Defense Logistics Agency (DLA) J6 Enterprise Technology Services 2.0 (JETS 2.0)
United States Air Force (USAF) Base Infrastructure Modernization (BIM)
Defense Manpower Data Center (DMDC) Defense Enterprise HR Applications and Data Services (DEHRADS)
United States Army EUROPE Infrastructure Modernization Capabilities Set (Army IMOD CAPSET)
United States Marine Corps (USMC) Infrastructure Services, Transport and Communications (ISTC) Base Area Network (BAN)
Federal Bureau of Investigations (FBI) Information Technology Supplies and Support Services (IT-SSS) 2nd Generation (IT-SSS2)
For a full list of Telos contract vehicles and additional information, please visit www.telos.com/contracts.
About Telos CorporationTelos Corporation (NASDAQ: TLS) empowers and protects the world's most security-conscious organizations with solutions for continuous security assurance of individuals, systems, and information. Telos' offerings include cybersecurity solutions for IT risk management and information security; cloud security solutions to protect cloud-based assets and enable continuous compliance with industry and government security standards; and enterprise security solutions for identity and access management, secure mobility, organizational messaging, and network management and defense. The company serves commercial enterprises, regulated industries and government customers around the world.
Forward-Looking StatementsThis press release contains forward-looking statements which are made under the safe harbor provisions of the federal securities laws. These statements are based on the Company's management's current beliefs, expectations and assumptions about future events, conditions and results and on information currently available to them. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The Company believes that these risks and uncertainties include, but are not limited to, those described under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' set forth from time to time in the Company's filings and reports with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2023, as well as future filings and reports by the Company, copies of which are available at https://investors.telos.com and on the SEC's website at www.sec.gov.
Although the Company bases these forward-looking statements on assumptions that its management believes are reasonable when made, the Company cautions the reader that forward-looking statements are not guarantees of future performance and that the Company's actual results of operations, financial condition and liquidity, and industry developments, may differ materially from statements made in or suggested by the forward-looking statements contained in this release. Given these risks, uncertainties and other factors, many of which are beyond its control, the Company cautions the reader not to place undue reliance on these forward-looking statements. Any forward-looking statement speaks only as of the date of such statement and, except as required by law, the Company undertakes no obligation to update any forward-looking statement publicly, or to revise any forward-looking statement to reflect events or developments occurring after the date of the statement, even if new information becomes available in the future. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should only be viewed as historical data.
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